I've enjoyed it a good bit so far. The first 3 episodes have been mostly about world building, but there is a clear plot that is slowly playing out.
The way Baltimore was the main character of The Wire, Times Square is the main character of The Deuce. I'm not convinced that the overall world of sex work in the 1970s is as big as the drug trade and degradation of the inner city, but I also am fairly uninformed as to Times Square during this period. I'm in for the long haul and think so far the show is progressing fine, if just a bit slowly.